The City Manager will establish a negotiating team that will work with Integra Investments to establish deal terms under which this development will be constructed. The following are the some of the major considerations for the City to frame a successful outcome with the negotiations with Integra:
Overall/max level of investment and source of funds
Conditions of sale for the land
Funding for off-site improvements (roadways and utilities)
Level of additional ground level public space/connectivity to East side of Dixie Hwy
Investment in structured parking vs. leasing allocable spaces for potential City Hall requirements
Brown Fields issues
Building/ potential City Hall space costs
Parking operating revenue
Retail space lease-up
It is anticipated that the negotiation of a development agreement will take a few months to ensure that the City’s objectives are met, the development firm retains its ability to construct an economically viable project, and all of the legal requirements are appropriately addressed.
To learn more, please attend or watch the February 21, 2018 City Commission meeting or call the City's Community & Economic Development office at 954-630-4240.